Can Can Lingerie Holding AG – Comment regarding planned takeover bid
(firmenpresse) -
Can Can Lingerie Holding AG – Comment regarding planned takeover bid
Sydney, Australia, 19th April 2010 - Can Can Lingerie Holding AG (ISIN: CH0044678180 / symbol: CCH) would like to comment on current business activities.
Can Can Lingerie Holding AG (CCH) has shareholder approval to change its name to ALF Group Holdings AG (ALF). Until the relevant authorities have processed this change we shall still refer to the company as CCH.
A recent newsletter article published in Germany made reference to a project currently being finalised that would have a significant impact on CCH and the Directors felt the need to clarify the current situation.
ALF via a Special purpose formed company, is proposing to make a takeover offer for the entire units in a listed fund. The bid documents are at an advanced stage and we expect this bid to be lodged within the next 7 to 14 days. The delay is due to the fact that the directors, some of whom are stranded in Europe due to the volcano ash, feel it is appropriate to be in Australia on the day that the offer becomes public.
CCH holds the following interest in the bidding vehicle:
- 10% direct interest in the equity of the bidder company and
- via its 50% owned ALF it will hold an additional 80% interest.
The takeover bid is for an Australian Mortgage Fund which is trading at an approximately 65% discount to net tangible assets and will provide significant upside to CCH and its shareholders. Further details will be provided after the announcement in Australia.
Mr Michael Pakula, Director of CCH, said, "Funding for the acquisition has been provided for and the estimated profit for the company should be in excess of $100m AUD over a four-year period. For legal reasons we cannot disclose the name of the target company or further details of the bid until it is lodged and announced on an Australian Stock Exchange.”
About CCH
As decided at the AGM held on the 12th April 2010, the name of the company will change to ALF Group Holdings AG. The Directors will announce the date of change of company name as soon as they receive official confirmation.
CCH owns 50% of one of Australia’s largest litigation funders, which also provides corporate restructuring services, funding and debt and equity solutions. It is also an acquirer of distressed assets.
Total shares outstanding: 112.5 million.
For further information please contact:
Can Can Lingerie Holding AG
77-79 Anzac Parade
Kensington, NSW 2033
Australia
Tel.: +61 2 9663 2842
Website: www.cancanholdings.com
eMail: info(at)cancanholdings.com
Leseranfragen:
Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
Datum: 19.04.2010 - 13:10 Uhr
Sprache: Deutsch
News-ID 19264
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 285 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Can Can Lingerie Holding AG – Comment regarding planned takeover bid
"
steht unter der journalistisch-redaktionellen Verantwortung von
Can Can Lingerie Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
